The objective of this Sub-Fund is to achieve income and as a secondary objective capital appreciation over the recommended holding period by investing mainly in a broad range of sub-Investment Grade debt and debt-related instruments denominated in U.S. dollars and issued by companies, governments, local authorities and international public bodies or supranational bodies from any country in the world, including Emerging Markets, as well as Money Market instruments and Credit Institution Deposits in order to achieve its investment goals and/or for treasury purposes and/or in case of unfavourable market conditions. The Sub-Fund may also invest in Investment Grade debt and debt-related instruments denominated USD or any other currency. The Sub-Fund will seek to hedge back to Euro the currency exposure from investment in instruments not denominated in Euro. The Sub-Fund"s investments may include, but are not limited to, subordinated bonds, senior bonds, preferred securities and convertible securities. The Sub-Fund"s investments may include contingent convertible bonds up to 10% of its assets and corporate hybrid bonds up to 20% of its assets. The maturity or call date of the bonds will generally be compatible with the Sub-Fund"s Maturity Date. The Sub-Fund may invest up to 20% of its assets in callable bonds maturing after the Maturity Date provided they have a first call date before the Sub-Fund"s Maturity Date.